Economics
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Q #1What are the influences of the Keynesian Perspective and the Neoclassical Perspectives on monetary policy?
Monetary policy refers to the economic influence of the central bank of an economy through the money supply regulation. The control might be contractionary or expansionary, depending on the desired outcome. Unlike classical theorists, who are the basis of monetary policy, Keynesian and neoclassical theorists have different perspectives. Neoclassical focus on the effect of aggregate supply on labor functions such as price flexibility. They believe that an economy will contract during an expansion or eventually rebound out of a recession because of the flexibility in wage rates and prices, which adjust to bring output back to equilibrium. Neoclassicals recommends fiscal policies and minimal government intervention (monetary) policies.
On the other hand, Keynesian economists are founded on the theory that price rigidity and uncertainty impact aggregate demand to bring about fluctuations in a given economy (OpenStax, 2012). They believe that real GDP is directly related to the money supply. Keynesians believe that money injection into an economy for expansionary purposes causes excess loanable funds, making interest rates fall. They do not recommend monetary action at all but rather believe in natural adjustment through demand and supply forces in the market.Q#2Consider a leader you admire and, based on information in the Unit 5 chapters, identify and explain this person’s leadership style. Additionally, describe how this person embraces diversity—if it is not apparent, describe how they could embrace diversity.
Barrack Obama is a leader whom I admire. His leadership styles are visionary and transformational leadership. Barrack is a leader who influences his followers via intellectual or emotional attraction to his dreams of what ‘can be’ (OpenStax, 2019). By being an inspiration to others, he enables them to do the extraordinary. This was eminent in Barrack Obama’s regime as the President of the United States through his slogan “Yes We Can.” In a given U.S. presidential ranking of diversity and inclusion, Barrack Obama topped the list with 75 points. As President, Obama strived and managed differences based on religion, sexual orientation, gender, ethnicity, and race.
References
OpenStax. (2012). OpenStax. Openstax.org. https://openstax.org/details/books/principles-macroeconomics-2e
OpenStax. (2019). Principles of Management. https://d3bxy9euw4e147.cloudfront.net/oscms-prodcms/media/documents/PrinciplesofManagement-OP_mGBMvoU.pdf